Schaeffler India's revenue from operations jumps 8% at Rs 1,693.62 crore

Schaeffler India's revenue from operations jumps 8% at Rs 1,693.62 crore

Net Profit for the quarter was at Rs 219.37 crore and net profit margin stood at 13.0 per cent.

FPJ Web DeskUpdated: Tuesday, April 18, 2023, 01:52 PM IST
article-image
Schaeffler India's revenue from operations jumps 8% at Rs 1,693.62 crore | Schaeffler

Leading industrial and automotive supplier, Schaeffler India Limited on Tuesday announced that the Board of Directors approved the results for the first quarter, which ended March 31, 2023, the company announced through an exchange filing.

The company's revenue from operations (net) for the quarter that ended in March was Rs 1,693.62 crore, 8 per cent higher than the corresponding quarter of 2022 and 5.6 per cent lower than preceding quarter.

PBT (before exceptional items) for the quarter was at Rs 294.12 crore 6 per cent higher than the corresponding quarter of 2022. PBT margin for the quarter stood at 17.4 per cent, compared to 17.7 per cent during the corresponding quarter of 2022 and 17.2% during the preceding quarter.

Net Profit for the quarter was at Rs 219.37 crore and net profit margin stood at 13.0 per cent.

Commenting on the results, Mr. Harsha Kadam, Managing Director, said, “The automotive technologies and automotive aftermarket business registered strong YoY growth. Our balanced business portfolio and focus on operational efficiencies helped us to mitigate the external headwinds resulting in resilient margins. As we move ahead in 2023, we remain committed to continue our growth trajectory while taking cognizance of the volatility and challenges in the market environment."

RECENT STORIES

Mumbai: NCDRC Orders Punjab And Sind Bank To Repay ₹ 11.5 Crore With Interest To PHFI For...

Mumbai: NCDRC Orders Punjab And Sind Bank To Repay ₹ 11.5 Crore With Interest To PHFI For...

Nestle India Shareholders Reject Proposal To Hike Royalty Payment To Parent Firm

Nestle India Shareholders Reject Proposal To Hike Royalty Payment To Parent Firm

Next Level: Motorola Edge 50 Fusion Launched In India

Next Level: Motorola Edge 50 Fusion Launched In India

2024 Maruti Suzuki Swift Review: A New Look for a Timeless Favourite

2024 Maruti Suzuki Swift Review: A New Look for a Timeless Favourite

TVS Apache RTR 160 Series Launches Sleek All-Black Edition Starting at Rs 1.20 Lakh

TVS Apache RTR 160 Series Launches Sleek All-Black Edition Starting at Rs 1.20 Lakh